This just in – Commodity Futures Trading Commision recently filed a case against group of people because of their involvement in a fraudulent scheme involving ATM Coin [ATMC].
It’s written in the complaint that Blue Bit Banc allowed their customers to trade binary options. The group (Blake Harrison Kantor, Nathan Mullins, Blue Bit Banc, Blue Bit Analytics Ltd, G. Thomas Client Services and Mercury Cove Inc) was operating as a common enterprise, but same time they were involved in shady practices and committing a cryptocurrency fraud.
Blue Bit Website was launched by Blue Bit Website Blake Harrison Kantor, who is also known as Bill Gordon. Blue Bit was advertised as world class trading platform, where traders can trade binary in a revolutionary simple way.
It is believed that customer accounts were being manipulated by Blue Bit’s employees, who eventually stoled the customers money from their balance. Some of the customers were advised to transfer their funds to a newly formed affiliated cryptocurrency company, Bitsblockchain.com. Kantor advised customers to buy ATM Coin [ATMC] via BitsBlockchain.com.
Customers saw their balances in some instances rising more than 10x, but couldn’t withdraw their funds. When they tried to remove money from their accounts, their attempts were unsuccesful.
ATM Coin – what was it?
ATM Coin is a cryptocurrency that claims to be designed specifically for business use. It claims to be “one of the newest and most promising cryptocurrencies to enter the market,” as it stands in the press release. People behind ATM Coin advertise benefits like security, quick transactions, p2p trading, and extremely small fees. Those selling points do not make ATM Coin very much different from other cryptocurrencies out there. There’s a total supply of 10,000,000,000 ATMC. It is specifically designed for enterprise/business use. ATM Coin was only exclusively available from one exchange online, which itself is a major red flag.